EC Puts Hungary 2024 GDP Growth at 2.4%

EU

The European Commission put Hungary's GDP growth at 2.4% for 2024 in a spring forecast released on Wednesday, according to state news wire MTI.

The EC augurs a "gradual recovery" over the forecast horizon as households' purchasing power rises and financing conditions ease.

The projection was unchanged from a forecast published in February and a fraction under the government forecast for 2.5% GDP growth.

The EC acknowledged a decline in inflation but said the recovery of consumption and strong nominal wage growth would limit its further decrease.

The general government deficit is expected to "remain elevated", while state debt, relative to GDP edges higher in 2024

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